BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) has received an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $27.00.
Separately, Morgan Stanley decreased their price target on shares of BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, July 29th.
Institutional Investors Weigh In On BrightSphere Investment Group
Several institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC lifted its position in BrightSphere Investment Group by 2.4% during the first quarter. Jennison Associates LLC now owns 2,039,755 shares of the company’s stock worth $49,464,000 after purchasing an additional 47,575 shares during the period. Empyrean Capital Partners LP bought a new stake in BrightSphere Investment Group during the first quarter worth about $41,968,000. Impax Asset Management Group plc lifted its position in BrightSphere Investment Group by 26.7% during the fourth quarter. Impax Asset Management Group plc now owns 823,745 shares of the company’s stock worth $21,088,000 after purchasing an additional 173,745 shares during the period. Bank of America Corp DE lifted its position in BrightSphere Investment Group by 68.1% during the fourth quarter. Bank of America Corp DE now owns 798,214 shares of the company’s stock worth $20,434,000 after purchasing an additional 323,442 shares during the period. Finally, Invesco Ltd. lifted its position in BrightSphere Investment Group by 17.6% during the fourth quarter. Invesco Ltd. now owns 665,599 shares of the company’s stock worth $17,039,000 after purchasing an additional 99,427 shares during the period. Institutional investors own 98.74% of the company’s stock.
BrightSphere Investment Group Price Performance
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). BrightSphere Investment Group had a net margin of 65.73% and a return on equity of 46.17%. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities research analysts expect that BrightSphere Investment Group will post 1.91 earnings per share for the current year.
BrightSphere Investment Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 0.89%.
About BrightSphere Investment Group
BrightSphere Investment Group Inc is a publically owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries.
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